Bitfinity Weekly: History On-Chain
Welcome to Issue #158 of Bitfinity Weekly for our #BITFINIANS community. If this newsletter was forwarded to you, sign up here.
What's in Today's Email?
- Bitcoin Bytes
- Global Crypto News
- In the IC
- This Week in our Blog
- Tweet of the Week
- Infographic Insights
- Meme Time
- A Matter of Opinion
Bitcoin Bytes
Mega Blocks: Pseudonymous Bitcoin dev lifofifo announced a record-breaking Bitcoin OP_RETURN transaction in Block 896696, embedding all 3,333 "The Wizards of Ord" Ordinals (1 megabyte of data). This feat pushed Bitcoin’s data storage limits and had a fee of 2.45M sats (worth over $2.5k USD). The record comes in the wake of a hotly contested decision by Bitcoin Core devs to remove the arbitrary data limitation in OP_RETURN code.
Liquidium Moves: Bitcoin lending protocol LiquidiumFi has rebranded to LiquidiumWTF. While the service still provides P2P (peer-to-peer) lending, there will be a shift towards a more meme-driven approach. Loans, collateral and Liquidium Points remain the same, carrying over automatically. A new social feature now rewards invitations with a 30% Liquidium Points boost.
Age of Silver: Asprey Studio, in collaboration with the British Museum, has created a collection of 10 sterling silver rhinoceros sculptures inspired by Albrecht Dürer’s 1515 woodcut. Each sculpture is paired with an Ordinal inscription, merging traditional craftsmanship with digital provenance. One sculpture has been acquired by the museum for its permanent collection, making history as the first Ordinal piece ever to be formally installed in a major museum.
Hash it Out: Jonathan Mills of Satoshi Labs is being sued by investors over allegations of misappropriating at least $3 million from the Hashling NFT project and a closely related Bitcoin mining venture. The plaintiffs allege Mills lied about transferring assets to a holding company, falsely claiming their equity stakes would remain unchanged. Despite raising $1.46 million from NFT drops on Solana and Bitcoin blockchains, investors claim they received none of the returns promised.
Global Crypto News
Linked Together: International banking giant JPMorgan Chase settled tokenized U.S. Treasuries on Ondo Finance’s platform this Wednesday. The transaction, facilitated by Chainlink’s cross-chain technology, connected JPMorgan’s private Kinexys blockchain with Ondo, enabling a secure Delivery versus Payment (DvP) settlement. This milestone involved real money movement, distinguishing it from previous proofs of concept, and is the first instance a major global bank linked its core payment system to a public blockchain.
Trilled To See You: The Ethereum Foundation has launched the Trillion Dollar Security Initiative to strengthen the network's security, aiming to protect its trillion-dollar ecosystem. The initiative invites security researchers to identify vulnerabilities in Ethereum’s core protocol, offering significant bounties for critical bug discoveries. It builds on Ethereum’s existing bug bounty program, which has already paid out millions, including a record-breaking $750,000 reward in 2024.
The Tele-Ban: International messaging app Telegram has banned thousands of accounts linked to Haowang Guarantee, a major black market, forcing the platform to go offline on Tuesday. Haowang Guarantee facilitated over $27 billion in illicit crypto transactions, which included money laundering, stolen data sales, and peddling tools for cyber scams. The shutdown followed investigations by blockchain analytics firm Elliptic and a WIRED inquiry, with additional pressure from the U.S. Treasury’s proposal to designate Huione Group, Haowang’s parent company, as a money laundering concern.
Speak Now: Coinbase is dealing with a multi-million dollar extortion attempt by launching a $20M bounty for information leading to the arrest and conviction of the perpetrators. The would-be extortionists bribed overseas support agents in order to steal personal data, including names, addresses, masked bank details and ID documents. Coinbase is reimbursing affected customers and working with law enforcement at this time.
In the IC
Bodied: Bob Bodily, CEO of Toniq, Bioniq and Odin.Fun, spoke with DFINITY about how the Odin platform utilizes ICP in order to facilitate Bitcoin Runes trades. The platform's rapid growth, which has reached 60k unique wallets, is attributed to its hybrid approach, which makes use of ICP's features like threshold signing and HTTP outcalls to create a seamless trading environment.
Chain Chatter: Want to know how Chain Fusion technology enables true multichain DeFi? Watch the latest episode of Tech Talk. Manu Drijvers, Senior Director of Engineering at the DFINITY Foundation, breaks down how Chain Fusion wors: ICP smart contracts to control assets across multiple blockchains without the need for bridges or gas tokens, enhancing security and seamlessness.
Taking Flight: The Dragginz DAO was approved by a 66% SNS vote to become the newest Node Providers on the Internet Computer. Dragginz DAO, which is developing the Dragginz game on ICP as its premier flagship product, is helmed by veteran game developer Adam Powell (the creator of Neopets). Dragginz is a 3D MMORPG that incorporates a DAO mechanism, allowing the community to participate in token-based governance.
This Week in our Blog
Learn about how BitVMs change the game by enhancing Bitcoin's privacy, introducing a meta-language on top of existing Bitcoin script:
Hans
🚀 Ever wondered how Bitcoin fits into the world of crypto launchpads? Dive into the crossroads of decentralization, funding, and innovation—where Bitcoin meets the next wave of Web3 projects. 🔗
Fred
Tweet of the Week
📣Bitfinity is an EVM compatible Bitcoin L2. As a result, developers can build on it with Solidity and other EVM languages.
— Bitfinity Network (@bitfinitynet) May 14, 2025
Here are some tools you can use to build with Solidity on Bitfinity EVM 👇
1. Remix
Known for its friendly interface, Remix is an online playground for… pic.twitter.com/NXLVhnw47x
Infographic Insights
🚀 All signs point to one thing: Bitfinity is setting the pace as Bitcoin’s top L2—by every technical measure that counts! ⚙️🔥
Meme Time
A Matter of Opinion
Yuga Labs, the creators of Bored Ape Yacht Club, have sold the intellectual property rights of the iconic CryptoPunks NFT collection to the Infinite Node Foundation (NODE) in a deal valued at approximately $20 million. Originally launched in 2017 by Larva Labs, CryptoPunks (a 10,000-piece generative art collection) stands as a pillar of the NFT movement, amassing over $3 billion in lifetime sales. This transfer marks a pivotal shift, moving the collection away from commercial ventures toward its preservation as a cultural and digital artifact. NODE, a nonprofit dedicated to art and blockchain, aims to secure the Punks’ legacy, emphasizing their historical significance over profit-driven exploitation.
The Infinite Node Foundation, backed by a $25 million endowment from Ribbit Capital’s Micky Malka and Becky Kleiner, is poised to redefine CryptoPunks’ place in art history. NODE plans to integrate the collection into global cultural institutions through museum partnerships and a landmark exhibition at its new Palo Alto facility, which will house a live Ethereum node for on-chain access. The foundation’s advisory board, including CryptoPunks creators Matt Hall and John Watkinson, Yuga Labs co-founder Wylie Aronow, and Art Blocks founder Erick Calderon, brings deep expertise to guide this mission. NODE’s focus is clear: to elevate CryptoPunks as timeless digital art, fostering community engagement and ensuring their accessibility for future generations.
Yuga Labs acquired CryptoPunks in 2022, a move initially celebrated but later criticized for commercial missteps. Projects like Super Punk World, a derivative NFT collection, faced backlash for straying from the Punks’ original ethos. This sale to NODE has sparked optimism and discource within the broader NFT community. After all, this shift sets a precedent for other NFT projects, encouraging a balance between commercialization and preservation. This historic deal highlights a finally-maturing industry, where foundational collections like CryptoPunks are increasingly valued as art and history, potentially inspiring new models for digital asset stewardship.
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